The government should recognize blockchain as an emerging industry with “significant” long-term economic and job creation opportunities, a lawmaker committee on industry and tech said. Source link
The $4.7 billion Bitcoin (BTC) monthly options expiry on June 30 might play a decisive role in determining whether the $30,000 price will consolidate as long-term support and open room for further bullish momentum. Why is Bitcoin breaking yearly highs? Many analysts consider Bitcoin’s recent breakout above $27,000 a bet on the multiple spot Bitcoin exchange-traded fund (ETF) request applications, including those of BlackRock and ARK Invest. The news also fueled expectations for Grayscale to be able to convert its Grayscale Bitcoin Trust (GBTC) to a Bitcoin ETF. $31,000 caps Bitcoin…
In the ongoing legal battle between Coinbase and the United States Securities and Exchange Commission (SEC), the American cryptocurrency exchange has filed a motion to dismiss the SEC’s complaint. In a legal document filed on Thursday, June 29 with the U.S. District Court for the Southern District of New York, Coinbase raised concerns about the SEC’s interpretation of securities laws, suggesting the agency was reaching beyond its legal authority. This move underscores Coinbase’s determination to challenge the SEC’s lawsuit. The motion to dismiss argues that even if all the allegations…
“Our vision of unlocking the power of on-chain digital assets for the next billion users is being made possible on Sui,” said Jim Nguyen, co-founder and CEO of San Francisco-based Six Clovers. “The way to do this is to close the gap between established e-commerce and Web3 commerce, by abstracting the blockchain and making the infrastructure invisible to customers.” Source
Atomic swaps work by utilizing smart contracts and hashlock cryptographic techniques to secure digital asset exchanges. “Atomic” is a term used to describe processes that either conclude successfully or do not initiate at all — there is no other alternative. An atomic swap for crypto trading implies only two possible outcomes: Either the trade is successfully executed, or no action occurs. In simpler terms, an atomic swap creates a mechanism where both sides of the cryptocurrency trade must satisfy all predetermined conditions before the trade can be finalized. This is…
In Binance’s peer-to-peer (P2P) platform, ML technology is employed to identify suspicious language in communications. By utilizing ML in P2P chat, feedback, and advertisements, potential payment scams, customer service impersonation, and malicious messaging can be detected. This technology has proven effective in preventing thousands of scams. For the know-your-customer (KYC) process, Binance utilizes a combination of computer vision (CV) and AI. These technologies aid in verifying documents and videos submitted by users during the registration process. The implementation of CV and AI has significantly strengthened the verification process, enabling the…
The company’s CEO Helena Helmersson said H&M upped sales in multiple markets even as customers reduced their spending behavior. On Thursday, popular fashion retailer H&M saw its shares reach a 16-month high as its Q2 profits exceeded expectations. The multinational clothing company gained 16.74% to reach its highest level since February 2022. At a time when people are spending more on food to survive the increasing cost of living, the retailer managed to surge as it targets shoppers less vulnerable to the high standard of living. H&M also began to…
Political and economic tensions around the world are making some people more willing to receive their pay in cryptocurrencies like Bitcoin (BTC), according to executives in the human resources industry. The share of salaries taken in cryptocurrencies and stablecoins has been on the rise over the past few years. This trend is driven not only by prominent athletes and politicians taking their pay in crypto, but also by ordinary people who want to hedge against all kinds of instability, according to goLance co-founder and CEO Michael Brooks. Several factors have triggered…
The press release explained how users can become fully verified by World ID – Worldcoin’s identity protocol. Blockchain identity project Worldcoin has announced a new collaboration with Okta – an identity management software. According to the announcement, the collaboration will help Worldcoin to launch its proposed identity protocol, World ID, in Germany. Worldcoin Floats World ID, Brags About Its Privacy Policy Per the announcement, World ID verification will start out in the German capital – Berlin. The new protocol will employ custom-designed hardware, called The Orbs, to verify German-based users…
In its first legal response to the U.S. Securities and Exchange Commission’s (SEC) lawsuit, crypto exchange Coinbase (COIN) claimed that digital assets listed on its platform fall outside the regulator’s (SEC) purview. The SEC sued Coinbase at the beginning of June, alleging that a dozen of the cryptocurrencies offered through its wallet or trading platforms were unregistered securities. In its answer, filed early Thursday, Coinbase claimed that these cryptos are not investment contracts and therefore not securities. It’s an argument Coinbase has advanced before in public statements, but Thursday’s filing…